Smoot–Hawley Tariff Act - Wikipedia
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  • Whats_your_reasoning@lemmy.worldEnglish
    241·
    1 day ago

    No, it’s not saying people living paycheck-to-paycheck won’t be affected. I think the point is - scary threat isn’t scary, because such people already feel the constant threat of poverty every day. Being regularly pumped full of cortisol over worries of simply surviving, there are no fucks left to give when additional threats are piled on.

    • kokolowlander@lemm.eeEnglish
      1·
      9 hours ago

      Tariff is a consumption tax. The poorest spends most of their income on consumption like groceries, clothing, car parts, etc. The price of all of that is going up.

      Next stockmarket wipeout reduces wealth of middle class the most, who in turn reduces spending on services that employee working class people.

      Poorest always gets hit the hardest in any negative economic event because they are poor.

      • Whats_your_reasoning@lemmy.worldEnglish
        1·
        2 hours ago

        Yep. I know. I think a lot of us know. It doesn’t make my burnt-out, cortisol-drenched brain any more capable of reacting.

        Just add it to the pile of my stressors over there. I think there’s some space between “potential homelessness” and “loss of medical coverage,” but you might have to squeeze it in there.